Amazon shares surge on back of profits

NEWS Investors breathed a sign of relief yesterday as Amazon shares jumped almost 25 per cent after the e-tailer reported its first ever profit. Amazon reported a pro-forma profit of $15m and a net profit of $5m, after six years in business. However, the company warned that its next quarter was likely to be unprofitable. Shares closed up 24.02 per cent to $12.60 in New York yesterday, while in Germany Amazon's European listing opened up 2.52 per cent this morning.